"If we only knew where it was," said Bob Vilett. "That's the trouble, you see, Dave. It may be thousands of miles away. It may be adrift on the ocean. It may be halfway to China, or divided up and squandered by that miserable Hankers crowd."

"No," said Dave, with emphasis. "I have pretty good evidence in my possession that the treasure is safe and sound on the Windjammers' Island."

CHAPTER IV

A PAIR OF SCHEMERS

"The treasure is on the Windjammers' Island!" exclaimed Bob Vilett.

"Yes," nodded Dave confidently, "I have every reason to think so."

"Begorra!" cried the Irishman excitedly. "On my paternal dominions? On the principalities of King Patrick Stoodles? A horse, my kingdom for a--no, I mane a ship. Lad, if the goold those Hankers stole is anywhere among my subjects, we'll have it back, mind me!"

"Well, let me explain," said Dave, "and then hear what you have to say. We three have shared too many perils and secrets together, to need to be told that all I tell now is in strict confidence until we get ready to act."

"Spoke like a lawyer," commented Stoodles.

"Like a friend, you mean," corrected Bob. "Leave it to smart Dave to work a way out of a dilemma. I'm interested and excited, Dave."